Industrial Pumps Market by Functionality (Dynamic Pumps and Positive Displacement Pumps), Pump Type (Reciprocating Pumps, Rotary Pumps, Centrifugal Pumps, and Diaphragm Pumps), End Use Industry (Mining, Energy & Power, Water & Wastewater, Oil & Gas, and Chemical) - Global Analysis & Forecast 2019-2030
Report ID : 279 | Region : Global
Industrial Pumps Market Introduction & Overview
Industrial pumps are heavy-duty process pumps that are utilized to move several kinds of products such as wastewater, water, petroleum, oil, sludge, slurry, food, and chemicals. These pumps are used to transfer liquids in an industrial setting. There are several industrial applications of these pumps and various types of pump designs cater to different industrial requirements. Owing to the nature of liquids that are used in industrial applications, industrial pumps are available in a wide array of sizes and shapes.
The global industrial pumps market is driven by factors such as the growing infrastructural development globally, high demand for industrial pumps from multiple end-use industries coupled with advancements in production facilities. Moreover, factors such as the increasing number of waste & water treatment plants, rising crude oil production and a growing demand to improve energy efficiency are further expected to propel market growth. However, sluggish economic conditions and low industrial output in certain regions along with stiff competition from low-cost industrial pump manufacturers in developing nations is expected to impede the market growth to a certain extent.
Industrial Pumps Market By Functionality
Based on functionality, the market can be segmented into dynamic pumps and positive displacement pumps. Positive displacement pumps are expected to grow at the fastest CAGR owing to high demand across various end-use industries and their ability to provide a stable flow for measuring & blending, a variety of liquids and chemicals while ensuring dependable and efficient pumping processes.
Industrial Pumps Market By Pump Type
Based on pump type, the market can be segmented into reciprocating pumps, rotary pumps, centrifugal pumps, diaphragm pumps, and others. Centrifugal pumps are expected to hold a lion’s share during the forecast period. This large market share can be attributed to their high utilization in manufacturing units and easy availability.
Industrial Pumps Market By End Use Industry
Based on end-use industry, the market can be segmented into mining, energy & power, water & wastewater, oil & gas, chemical, and others. The water & wastewater segment is expected to hold the largest share. Global population growth, urbanization, and rapidly growing manufacturing activities are driving the growth of this segment.
Industrial Pumps Market By Region
Based on region, the market can be segmented into North America, Europe, Asia-Pacific, and the Rest of the World (ROW). Asia Pacific is dominating the market owing to countries, such as China and India, witnessing a surge in construction, infrastructure, and manufacturing activities. The increasing demand for industrial pumps from key end-use industries in the region, such as chemicals, mining, and oil & gas, is expected to further augment market growth during the forecast period.
Industrial Pumps Market Prominent Players
Some of the key players operating in the global industrial pumps market include Flowserve Corporation, KSB SE & Co. KGaA, Sulzer Ltd, SPX FLOW, Inc., Iwaki America, Inc., ITT INC., EBARA CORPORATION, Schlumberger Limited, GRUNDFOS, and Roto Pumps Limited, among others.